Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

There is interest in the sale of Lukoil refinery Bulgaria's Burgas

Photo: Lukoil Neftochim Burgas

The increased pressure of the Bulgarian government on the Russian companies operating in Bulgaria has caused Lukoil to start a procedure for the sale of its Burgas-based oil refinery, Bulgarian Finance Minister Assen Vassilev told the Financial Times. There are already "signs of interest" from a potential buyer. Only after the deal is completed will the profit tax for the refinery be reduced from 60% to 15%. 

The transition of production to non-Russian oil will cost around 500 ln euro, the publication writes.

Bulgaria's Prime Minister Nikolay Denkov has commented that it is not clear whether the expressed interest in the refinery will end with a purchase and everything depends on the owner Lukoil Bulgaria. "When it comes to such a large asset, there are quite a few stages before a successful final deal is reached," the prime minister added.

Lukoil Burgas is the largest Russian oil refinery in Southeast Europe. The company exports more than half of its production, with most of the diesel fuel going to Ukraine, the Financial Times specifies.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

One out of 6.5 million Bulgarians are inactive

Regional policies are needed to address imbalances in employment and economic activity levels in different regions of Bulgaria, taking into account the specificities of each region. This is the recommendation of the Council for Economic Analysis study..

published on 5/20/24 3:08 PM

The total expenditure per household member in Q1 of 2024 averages EUR 1,290

The total average income per household member in the first quarter of 2024 is BGN 2,840 (EUR 1,452.07), which was an increase of 18.6%, year-on-year, the National Statistical Institute said. Wage income increased from BGN 1,284 (EUR 656.5) to BGN 1,597..

published on 5/17/24 2:46 PM
Smilen Valov

Over 1 million is the number of inactive persons on the Bulgarian labor market

There are over one million inactive persons on the Bulgarian labour market. They don't study, don't work and are not registered with the labour offices. This "army" has huge untapped potential, National Employment Agency Director Smilen Valov said...

published on 5/16/24 8:49 AM